Jabil (NYSE:JBL) Given New $157.00 Price Target at UBS Group

Jabil (NYSE:JBL) had its price objective raised by UBS Group from $152.00 to $157.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on JBL. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Barclays boosted their price objective on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.50.

Jabil Stock Performance

NYSE JBL opened at $145.02 on Friday. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.65 and a beta of 1.19. Jabil has a twelve month low of $95.85 and a twelve month high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $155.96 and a 200 day moving average of $137.91.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. Sell-side analysts anticipate that Jabil will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. Jabil’s dividend payout ratio (DPR) is presently 3.07%.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares of the company’s stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 over the last ninety days. Corporate insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after acquiring an additional 5,800,535 shares during the period. FMR LLC grew its position in Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after acquiring an additional 416,841 shares during the period. Geode Capital Management LLC grew its position in Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after acquiring an additional 34,574 shares during the period. JPMorgan Chase & Co. grew its position in Jabil by 18.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after acquiring an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in Jabil in the fourth quarter worth approximately $218,430,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

About Jabil

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).